Insightful Insights

Imagine a scenario in which you buy a share knowing that you will not be able to sell it. Ever. Instead, the purchase must be justified solely on the basis of the dividends that the share will provide for as long as the company remains in business. When your time is up, you will pass the share on to your descendants. Let’s assume you are fond of your descendants and keen for them to do well.

In this sort of world, how would you think about choosing which shares to own ? continue…

by Tim Kelley Posted in Insightful Insights.

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Over in Singapore recently, as a guest of my very generous hosts at Singapore Press Holdings, I was delighted to meet the company’s Editor-in-Chief Mr Patrick Daniel and Chief Executive Officer Mr Christopher Lee (see photo). As you would expect in any chat between a value investor and the divisional heads of Singapore’s largest newspaper, I asked about the emerging threat of online classifieds. continue…

by Roger Montgomery Posted in Insightful Insights.

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Those of you who are boat owners would know all about the V-Sheet – distress signal. A ‘V’ is also one of the shapes a recovery can take. But while the ‘V sheet’ is an apt alphabetical metaphor for the state that mining services is now confirmed to be in, it isn’t the right shape anyone should be expecting recovery to take. continue…

by Roger Montgomery Posted in Energy / Resources, Insightful Insights.

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Automotive Holdings (ASX: AHE) is Australia’s largest automotive retailer and transporter of refrigerated food. While AHE sits outside our investment universe, we enjoy following the company’s performance as management is well placed to comment on the health of the domestic car industry (which has implications for the broader economy). In our latest discussion at the full year results, management noted three key pressures that the company is closely monitoring. continue…

by Ben MacNevin Posted in Insightful Insights.

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Following on from Ben’s post last week on Boom Logistics Limited (BOL), three other mining services sector-related businesses have also reported so far. continue…

by Russell Muldoon Posted in Energy / Resources, Insightful Insights.

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Listen up! You might not get too excited about bonds and interest rates but just as gravity pulls everything down on earth, so do rising interest rates affect the value of assets from from stocks to residential property to cotton farms. continue…

by Roger Montgomery Posted in Insightful Insights.

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Interesting to see the share price reaction to the CBA result today. As we write, CBA shares are off slightly, following yesterday’s announcement of CBA’s record FY13 profit. continue…

by Tim Kelley Posted in Financial Services, Insightful Insights.

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National Australia Bank’s monthly survey for July 2013 is pointing to business conditions being at their lowest level since May 2009. continue…

by David Buckland Posted in Insightful Insights.

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Is it true that Woolworths have given marching orders to hundreds of Dan Murphy managers around Australia? Is it also true 200 managers at Dan Murphy’s in Queensland have been given six months notice with similar notices received around the country as the company reduces the number of managers per store from 4 to 3? continue…

by Roger Montgomery Posted in Insightful Insights.

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IRESS is a company that we love at Montgomery Investment Management and it’s been frustrating to watch the company’s share price trade at a material premium to our estimate of its intrinsic value. But has its latest acquisition presented an entry opportunity? continue…

by Ben MacNevin Posted in Companies, Insightful Insights.

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